The study aims to estimate an international reserves demand model for China using economic growth, propensity to import, real effective exchange rate and trade openness variables for quarterly period spanning from 1985Q1 to 2014Q4.The bounds testing technique to cointegration is used to test for a long run relationship, while the autoregressive distributed lag approach is used to estimate short...

development of financial markets as an important factor in the economic growth process always has been of interest to economists. the purpose of this paper is to study the relationship between regional financial development and economic growth. this study uses provincial annual data over the period 2000-2011 by using panel data technique. the panel co integration techniques have been used to te...

Abstract In this paper we estimate the expected error of a stochastic approximation algorithm where maximum function is found using finite differences representation that function. An order $n^{-1/5}$ for n th iteration achieved suitable parameters. The novelty with respect to previous studies allow be discontinuous and consist possibly dependent random variables (satisfying mixing condition).